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What are three causes of population growth?

Infant mortality rate decreasing due to improved medical care. Death rate decreasing due to higher living conditions and medical care. High birth rate in LEDCs (Less Economically Developed Countries) due to large sized family traditions and culture


What are the 3 international principle of economy?

The three international principles of economy include comparative advantage, which suggests that countries should specialize in the production of goods they can produce most efficiently; the law of supply and demand, which describes how prices are determined in a market economy based on the availability of goods and consumer desire; and the principle of free trade, which advocates for minimal restrictions on international trade to promote economic efficiency and growth. These principles guide how nations interact economically, influencing trade policies and international relations.


What three basic questions do countries ask when planning their economies?

What to Produce, For whom to produce it to, and how to Produce


What are the three major factors of production?

To name only three: - Firstly, you need to research need, what you are trying to achieve and verify resources are suitable, available and sustainable. This includes the raw materials, the collateral to purchase these materials and a place to utilise or store these materials. Secondly, you need to be able to convert these raw materials into a viable product that can be utilised by a consumer. Much the same way as plants convert sunshine and nutrients. Thirdly, Demand, Cost and Efficiency. You need to know the markets current and future needs, and how to supply suitable quantities with the least expenditure over the total production and distribution cycle. This a somewhat simplistic overview of the more complex factors of production.


It is a system whereby goods are produced and exchanged?

An economic system is one in which goods are produced and traded. It outlines how a community distributes goods and services, plans production, and allots resources. Traditional, command, market, and mixed economies are common types; each has distinct roles for markets, the government, and individual choice in the decision-making process.